Emerging Markets

Rating Our 2013 Picks

Our notion that developing markets would accelerate was off, but we did more than OK with our midyear course corrections.

Like a student who watched 1995's The Scarlet Letter starring Demi Moore—you know, the one with the happy ending—to prepare for a test on the book, emerging-market investors found out in 2013 that everything they thought they knew was wrong.

Heading into 2013, "fast growing" developing nations were set to accelerate; the economies of China, Brazil and India would turn the corner; and investors would...